NEW DELHI: The skyline of Ring Road along Nauroji Nagar and Netaji Nagar in south Delhi will change, by June 2020, with the construction of high rise towers both residential and commercial on either side of the road. There will be two colonies comprising nearly 5,000 houses to accommodate government employees and commercial hubs, and there will also be World Trade Centre well equipped with modern and hi-tech infrastructure.
The foundation stone for the World Trade Centre and commercial towers will be laid by Vice-President M Venkaiah Naidu. There is an expectation to raise about Rs 12,000 crore from this project and another Rs 20,000 crore from sale of commercial space in Sarojini Nagar. This amount collectively will be used for the redevelopment of seven government colonies.
National Buildings Construction Corporation (NBCC) will not only construct new colonies but will also redevelop older colonies such as Sarojini Nagar, Nauroji Nagar, and Netaji Nagar whereas, central public works department (CPWD) will redevelop four other colonies named Thyagraj Marg, Mohammadpur, Srinivas Puri, and Kasturba Nagar.
This will be first project where the agency building the residential, commercial and other facilities will maintain them for 30 years, said A K Mittal, NBCC chief. Laying the foundation stone, spoke out his mind saying “there is a greater need to develop green and energy-efficient solutions to meet growing needs of housing. There are huge challenges to be overcome if the country has to sustain a rapid economic growth of close to 7 or 7.5% per year on a continuous basis.”
